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Property and Landlords

Many of our personal clients own investment properties. However few people are initially aware of all the sometimes complex income tax and capital gains implications that arise and we often find clients coming to use from other accountants who don't have the same in depth knowledge in the industry and so are unable to make the most of the tax system on the clients behalf.

We can assist with both the completion of your income tax returns, and more generally planning of the use of your portfolio to minimise the gains arising and giving hands on practical advice. Our Principal is a landlord personally and so understands the business from a personal and professional point of view.

-New Landlords

-Existing Landlords

-Property Trading and Renovation

small ovalNew Landlords

By being involved with a significant number of property owning clients we have the experience to help plan your letting, and put together a sound plan prior to your investment.

We can advise not only on how to structure the purchase from an income tax point of view, but with a view to the longer term capital gain. Many people go into property lets without fully understanding the tax implications which can make a major impact on the profitability of the venture.

Did you know for example that holiday let properties qualify for 10% entrepreneurs relief rather than paying 18% for a normal residential let? Do you know how long you need to live in a property for it to be classed as your "Principle Private Residence"? Or that this time may change depending on your circumstances.

We are experienced in advising those with small single holdings as well as those setting up property management companies for the larger investor.

Of course we don't just leave it at the advice, we are available to help you set up your letting, and to complete your tax returns at the end of the year.

small ovalExisting Landlords

We don't just fill in your tax return - although we do that too. We look more widely at your circumstances. We have experience in dealing with a wide range of issues in this area. By dealing regularly with landlords we are well versed not only in the tax implications of your actions but also in the latest developments. Ie if you tell us that you are looking to "flip your BMV" we will understand what you are talking about and be able to help you avoid both practical and tax problems.

bullet Are you claiming all the available allowances and deductions?
bullet Have you structured the ownership to minimise your income tax liability?
bullet Thinking of selling the property and would like to calculate and then minimise the capital gain?
bullet Not declared your rent and need to submit back returns?
bullet Want to use a limited company to save tax?

small ovalProperty Trading and Renovation

Thinking of buying a property to renovate and sell on?

Make sure you know before you buy the property how you will be taxed. If you know the rules you can plan around them.

Many people wrongly assume that because it is property they are buying and selling, there will be no taxes arising, or any capital gain will be taken up by their capital allowances.

In many instances your renovation will be treated as a trade, and be taxed on an income basis from all the profits you make from the venture. However this treatment actually gives rise to a planning opportunity of running the trade via a limited company which can prove rather tax efficient.

If you would like to look at the options before you start - and even if you have already completed your project, please let us know. You may be impressed by the level of tax that can be saved through a proper planning process.

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